Rather than having employees choose between repaying the entire loan or defaulting on it, simply transfer the balance to MPL for continued repayment. The MPL team serves as your back-office loan administrator, which makes life much easier.

Key Features

Existing loans are easily converted to MPL

Reduces the burden of loan administration on HR/payroll departments

Allows for terminated participants to continue to enjoy borrowing/repayment privileges after they leave your employment

Simple and affordable transaction fees

Compliance audit support for peace of mind

Designed For

MyPlanLoan is especially well-suited for clients that struggle with administering retirement plan loans. It’s also a great option for employers wishing to encourage terminated employees to retain the retirement savings set aside for their future.

More than 80% of participants that terminate employment with an outstanding loan ultimately default on the loan. We can help fix that.